Summary
Brookfield Asset Management Ltd. (BAM) has filed an 8-K report detailing a significant debt financing event. On September 9, 2025, the company successfully completed an offering of US$750 million in aggregate principal amount of 6.077% notes due in 2055. This issuance, governed by an Indenture and a Second Supplemental Indenture, extends BAM's long-term debt maturity profile with interest payments semi-annually. The notes carry a fixed interest rate of 6.077% and mature on September 15, 2055. BAM retains flexibility for early redemption, including a "make-whole" provision prior to March 15, 2055, and the ability to redeem at par plus accrued interest from that date onwards, or under specific circumstances related to Canadian withholding taxes. The Indenture includes protective covenants, such as restrictions on incurring liens, and mandates a change of control offer to purchase the notes at 101% of their principal amount.
Key Highlights
- 1Completed offering of US$750,000,000 aggregate principal amount of 6.077% notes due 2055.
- 2Notes mature on September 15, 2055, with semi-annual interest payments.
- 3BAM has flexibility for early redemption, including a 'make-whole' provision and redemption at par.
- 4Redemption is also possible in the event of certain changes affecting Canadian withholding tax.
- 5The Indenture includes restrictions on BAM's ability to incur liens.
- 6A change of control event triggers an offer to purchase the notes at 101% of their principal amount.